of bushels) for corn, soybeans, and other major crops as portrayed in the USDA projections. Lower‐than‐expected production of corn could raise market prices ... the USDA corn demand forecast for ethanol production with the historical demand ... Figure 3.33: U.S. Corn Demand for Ethanol Production 1987-2018 Forecast Millions of Bushels Source: USDA National Agricultural Statistics Service and Agricultural Projections to 2018, February 2009, page 33.

Figure 3. U.S. Ethanol Production from Corn Billion Gallons Baseline High Energy Price with Removal of Biofuel Tax Credits High Energy Price with No Bottlenecks High Energy Price Removal of Biofuel Support

21. The reduction in bioethanol production reduces the consumption of corn (maize) and therefore leads to a decrease in US corn (maize) prices ... and exporter of corn and as such, effectively sets the world price of corn (maize ... figure 8. projected US corn (maize) price USD /tonne baseline without biofuel support

investment, cornprices would be lower relative to ethanolprices; if investors were even more responsive to profit opportunities, cornprices would be higher relative to ethanolprices. ... Dollars per gallon Value of ethanol & distillers grains Corn and other operating costs

Total (€/l) Total (c€/MJ) Gasoline E10 E20 E30 E50 E85 E7 The figures show that ethanolprices can go ... remain more expensive. GASOLINE AND BIOETHANOL A simulation of gasoline and bioethanol costs for the future has been done as well (Table 5.3-15). the energy content into account, bio-ethanol will only become cheaper on the longer term. It is important ... Table 5.3-15 : Simulation of gasoline and bioethanol costs blended at different percentages by 2010, 2020 and 2030 2010 (€/l) Gasoline E10 E20 E30 E50 E85 Base price